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Multiwalled carbon nanotubes (MWCNTs) have been first coated with cobalt ferrites by a simple wet method. Transmission electron microscopy images show that ferrite nanoparticles (average diameter of 10 nm) were deposited on the sidewall of the MWCNTs. X-ray diffraction pattern exhibits representative diffraction peaks corresponding to spinel structure, and the structure of the MWCNTs is not distorted. X-ray photoelectron spectroscopy spectrum shows the proportion of the content of Fe and Co is about 2:1, which coincides with the stoichiometric proportion of CoFe2O4.